Global alternative asset firm TPG has marked the final close of its latest Asia-focused private equity fund TPG Capital Asia VII, with it raising more than $4.6 billion in commitments.
The total commitments exceeded the fund’s target, TPG said in a statement.
“With Asia VII, we will continue to invest in opportunities that reflect our differentiated investment strategy, deep sector expertise, and focus on operational improvement. We look forward to continuing to deliver value for our investors while helping to build great new companies across Asia,” said Ganen Sarvananthan, Co-Managing Partner at TPG Capital Asia.
TPG Asia VII has so far committed more than 40 per cent of the capital across 12 companies including Du Xiaoman, the consumer lending, wealth management and payments platform spun out from Baidu; Pathology Asia Holdings, Healthscope’s Asian Pathology business that operates 39 labs across Singapore, Malaysia and Vietnam; UPL, a global leader in agricultural solutions; and Greencross Limited, an ASX-listed integrated pet care platform in Australia.
TPG, which launched its first Asia-focused fund 25 years ago, has invested a combined $11 billion across 13 countries in the region.